Happy Holidays, raving fans! Today, let’s cover the topic of coming-soon listings and how they can boost the outcome of your home sale.
It’s so important that your home gets listed on a coming-soon listing site, even if you’re selling your house in the spring. Recently, though, the board of the National Association of Realtors has decided that they’ll only allow people to put their homes on the market 21 days before—on any site.
So, we cannot put listings on our website or any coming-soon page longer than 21 days before the listing goes on the market. This eliminates a lot of creativity in our market.
So how important is it to get your home on a coming-soon site more than 21 days before it goes live on the market?
Well, ‘coming soon’ means your house will be on the market soon; that attracts a number of buyers ahead of time, giving you an indication of the overall demand for your home, how you could feasibly price your home, and so on.
Let’s start with demand. Buyers are looking for homes months in advance; they don’t wait until two months before they intend to purchase to start looking. If you have a coming-soon listing out now for a sale in April, it will tell you whether or not people are actually interested in your home.
Similarly to demand, a coming-soon listing will also let you know whether or not your price is viable. You can also raise or lower the price before it goes on the market to see how interest varies. 21 days is simply not enough time to test those variables.
Third, coming-soon listings can also help you gauge market volatility. If you put your home on a coming-soon site now for an April sale, you can watch demand between now and then to determine whether or not the market is rising or falling. Knowing whether a market is on the rise six months before everybody else gives you so much negotiating leverage—this also allows you to get a better price when you do sell it.
Finally, coming-soon listings create an aura of exclusivity. Buyers often come to the sellers of coming-soon listings looking to make a deal without any competition from other buyers; this can often lead to getting a premium price for your home. As an added bonus, listing this way can also give you time to take photos of your home in a favorable season, adding to the appeal of your property.
So if you’re thinking of selling your home in the spring market of 2020, now’s the time to start talking about it. Yes, the holidays have a lot of people busy, but that’s the beauty of it—nobody else is thinking about it now. Reach out and give me a call! I’ll give you all the best home-selling advice I can offer, which, coincidentally, you can also find in my book, “Home Selling Sharks.”